Altanhuyag is 49 years old and lives with his wife and daughter in the Chingeltey district of Ulaanbaatar, the capital city of Mongolia. His wife, Dulmaa, manufactures Mongolian traditional dress (deel) and apparel for horse racing at their home. His daughter attends university in Ulaanbaatar.
Altanhuyag graduated from vocational school in 1980, having studied to be a veterinary technician. Between 1980 and 1994, he worked as a veterinarian and statistician in his home province of Uvs. Between 1994 and 2002, he lived in Bayanolgii province, working as a signaller in the border guard of that area. In 2002, he moved to Ulaanbaatar to enroll his daughter in the university.
Presently, Altanhuyag operates a grocery store in the yard which belongs to his sibling. Besides this business, he works as a sentry at Buyan LLC and Urgoo public housing.
Altanhuyag is a very hardworking person and he would like to purchase a sewing machine for his wife and expand their clothing manufacturing business into a full sewing workshop. He is requesting a 1,000,000 tugrug loan to increase his working capital and to purchase materials for the clothing manufacturing business and also purchase more inventory for their grocery store.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.